revenue management

Seamless revenue management from contract to cash.

Workday Revenue Management gives you flexible ways to manage contracts, billing, collection, accounting, and analytics all from a single system. Plus, built-in support for ASC 605, ASC 606, and IFRS 15 enables smooth migration and dual reporting.

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Run “what if” scenarios to see the impact of ASC 606.

View revenue trend by category for each scenario to plan more effectively.

Compare scenarios by revenue category to select the one that suits your needs.

Get a complete view of your customers and contracts.

With Workday, you gain a full view of your customer interactions and entitlements in one place. Which means you can spend less time reconciling and bring greater value to your organization.

  • Gain insight into the full contract life cycle, from sales and modification to billing and financial statements. 
  • Integrate with Salesforce and other CRMs to better control the quote-to-cash process. 
  • Support multielement contracts and easily connect with other contract management systems.
  • Ensure task completion with a configurable contract checklist.
  • Simplify control and compliance by tracking all contract changes at the line level.
  • Automatically track contract renewal terms and pull insights from renewal reporting.

Enable flexible revenue recognition.

With robust scenario modeling, flexible dual reporting, and a full audit trail, you can easily support ASC 605, ASC 606, and IFRS 15.

  • Model scenarios using the revenue scenario tool to make better decisions that impact your P&L and operations.
  • Facilitate dual reporting and auditing with our unmatched alternate contract feature.
  • Support multielement revenue allocation and accounting adjustments based on various methods across linked contracts.
  • Identify performance obligations and track fulfillment to align revenue with event triggers.
  • Capitalize and amortize contract acquisition costs, like sales commissions and more.

Learn more about revenue recognition >

 

Accelerate cash flow and reduce bad debt.

Workday provides robust billing and predictive AR collection to effectively manage receivables.

  • Support a variety of billing arrangements, including time and materials, fixed fee, prepaid, usage-based, subscription, milestone, and more.
  • Automatically generate configurable billing schedules and installments when creating contracts. 
  • Gain insight into accounts receivable, including past activity, overdue balances, and history from a centralized dashboard. 
  • Support your global enterprise while meeting local requirements.

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